Surjik Group, the mother company of SurgeZirc Media has announced the cancellation of its transaction with South African investor Caleb Buford. The deal, which involved the sale of 80% of Surjik Group’s shares, was terminated due to the failure of Buford’s representing team to fulfill their financial obligations as stated in the transaction agreement.
The negotiating team representing Surjik Group expressed their disappointment and concerns regarding the transaction. “It is past the time for the payment to be made, and we have not seen any payment. We have requested to be put through to the investor himself, Caleb Buford, and that hasn’t happened yet. In fact, I don’t even know if that investor truly exists or not. We have no option but to cancel the deal. I sense fraud… no deal anymore,” said Sam, a member of the negotiating team.
This unexpected turn of events has left Surjik Group questioning the legitimacy of the transaction and the credibility of Caleb Buford and his representing team. The failure to fulfill the financial and other obligations outlined in the transaction agreement has raised concerns about the transparency and trustworthiness of the South African investor.
Financial Obligations and Transaction Agreement
The transaction agreement between Surjik Group and Caleb Buford’s representing team clearly outlined the financial and all other obligations that were expected to be met. These obligations included the timely payment for the purchase of the shares, as well as the provision of necessary documentation and proof of funds.
Surjik Group had set a deadline for the payment to be made, and unfortunately, the South African investor’s team failed to meet this deadline. Despite multiple attempts to establish communication with Caleb Buford himself, Surjik Group was unable to reach him or receive any clarification regarding the delay in payment.
Cancellation of the Deal
Given the lack of payment and communication from Caleb Buford and his representing team, Surjik Group made the difficult decision to cancel the deal. The concerns raised by the negotiating team, including suspicions of fraud, further solidified the company’s stance on terminating the transaction.
Surjik Group remains committed to transparency and integrity in its business dealings. The company will continue to prioritize taking the company to the next level and ensure that any future transactions are conducted with the utmost care and diligence.
For further inquiries or information, please contact Surjik Group’s public relations team at pr@surjikgroup.com.
